Telecom Giant Expects 24pc Jump in Revenues

Aug 21 , 2021

In the face of impending competition, Ethio telecom targets to increase its revenues by 24pc to 70 billion Br this year. The state-owned telecom giant earned 56.5 billion Br in revenues during the last fiscal year, portraying an 18pc annual increase. Unveiling a new strategy that spans from 2021 to 2024 last week, Frehiwot Tamiru, CEO, explained her intent to introduce new business streams and shift revenue sources from traditional to value-added services in order to achieve the target set for this year. The Safaricom-led global consortioum, which acquired a telecom license for 850 million dollars, is expected to start operations in early 2022. It is expected to start providing services by renting out telecom infrastructure from Ethio telecom, another revenue source that Frehiwot expects to boost the numbers this year.